Help in maximizing income returns
I have a fourplex and i manage myself.
I have spent (or reinvested, depending on which angle I want to see it) over $20K in 2017
I went to my CPA to ask her how much I would get back on taxes and CPA says probably around 6K. CPA told me was filing my business under schedule C.
I bought this fourplex in sept 16 through an FHA loan and I filed for my taxes in 2017 year and I got around 6K and probably spent around 5K fixing it.
Why would I be getting around the same amount of taxes back if I reinvested back more money and also invested in cap ex out of pocket.
I was thinking I was getting some more money back to continue buying more properties.
I don’t know anything about this so that’s why I’m asking. Any advise is welcome. I will be reading about real estate taxes to be more educated in this aspect.
Any advice is welcome.